Maryland State Retirement & Pension System Cuts Holdings in CRH plc (NYSE:CRH)

Maryland State Retirement & Pension System lessened its stake in CRH plc (NYSE:CRH) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,690 shares of the construction company’s stock after selling 2,559 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CRH were worth $3,395,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in CRH by 7.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock worth $144,605,000 after acquiring an additional 114,072 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of CRH by 22.1% during the fourth quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock worth $3,012,000 after purchasing an additional 5,889 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CRH by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock valued at $226,732,000 after buying an additional 232,977 shares during the last quarter. Merit Financial Group LLC raised its stake in CRH by 31.8% in the fourth quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock valued at $2,151,000 after buying an additional 5,610 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in CRH by 19.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock valued at $6,733,000 after buying an additional 12,076 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Up 2.7 %

CRH opened at $98.78 on Thursday. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The business has a 50 day moving average price of $99.65 and a two-hundred day moving average price of $96.26. The company has a market cap of $66.86 billion, a PE ratio of 19.76, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is 15.51%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRH. Citigroup cut their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 price target on shares of CRH in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $109.25.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.